Good day everyone. Welcome to the Xinyuan Real Estate Company Limited Fourth Quarter 2011 Earnings Conference Call. Today’s conference is being recorded. At this time, I would like to turn the call over to Helen Zhang, Financial Controller for opening remarks and introductions. Please go ahead.

Helen Zhang

Hello everyone and welcome to Xinyuan’s fourth quarter and full year 2011 earnings conference call. The company’s first quarter earnings result were released earlier today and are available on a company’s IR website as well as on Newswire services.

Before we continue, please note that a discussion today will contain forward-looking statements made under the Safe Harbor provisions of the US Private Securities Litigation Reform Act of 1995. Forward-looking statements involve inherent risks and uncertainties. As such, our result will be materially different from the views expressed today.

Further information regarding this and other risks and uncertainties is included in our registration statement and our Form 20-F and other documents filed with the US Securities and Exchange Commission. Xinyuan does not assume any obligation to update any forward-looking statements, except as required under applicable law.